Arcapita Completes Sale of B.R. Lee Industries to ST Engineering for $129.5 Million.ATLANTA -- Atlanta-based private equity firm Arcapita Inc. announced today that Vision Technologies Land Systems, Inc. (VTLS VTLS Visionary Technology in Library Solutions (Blacksburg, Virginia) VTLS Virginia Tech Library Systems, Inc. ), a subsidiary of Singapore Technologies Engineering Singapore Technologies Engineering is a global defence and engineering group of over 100 subsidiaries in 29 cities in 17 countries. Its customer base covers over 60 countries. Overview Its United States headquarters is a subsidiary Vision Technologies Systems Inc. Ltd (ST Engineering), has completed the acquisition of B.R. Lee Industries Inc. for $129.5 million. The purchase agreement related to the transaction was previously announced on May 1, 2006. Arcapita executive director Charlie Ogburn said, "We are pleased that the sale of B.R. Lee has been completed. The company has performed well over the past few years and we are proud of our association with B.R. Lee since 2000." B.R. Lee, with its LeeBoy and Rosco brands, is a leader in the road construction and maintenance equipment market. It is the number one original equipment manufacturer in the U.S. by unit volume for commercial class asphalt pavers and brooms. B.R. Lee also offers a one-stop comprehensive product offering, with approximately 65 different models of equipment for road construction and maintenance equipment and has an extensive distribution network that covers all 50 U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and and 10 Canadian provinces Noun 1. Canadian province - Canada is divided into 12 provinces for administrative purposes province, state - the territory occupied by one of the constituent administrative districts of a nation; "his state is in the deep south" . Its customers include large road building contractors, small to medium specialty contractors and governmental agencies in the U.S. The North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. road construction and maintenance equipment demand is estimated at approximately $2.5 billion annually and overall demand is forecasted to grow at a compounded annual growth rate in excess of 4 percent from 2005 to 2010. About Arcapita Arcapita is a global investment group with offices in Atlanta, London and Bahrain. Arcapita's main lines of business include corporate investment (private equity), real estate investment, asset based investment, and venture capital. Arcapita's corporate investment line of business was founded in 1997 and operates out of Atlanta and London. To date, the Bank has completed 52 transactions with a total value exceeding $11 billion. More information on Arcapita is available online at www.arcapita.com. About ST Engineering Ltd ST Engineering Ltd is an integrated engineering Integrated Engineering is a multi-disciplinary, design project based engineering degree program. Integrated Engnineering is a program created to meet the demand for engineers who are able to deal with a wide range of problems, often involving knowledge from several group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, ST Engineering reported revenues of $3.34 billion in FY2005. With a current market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of over S$8 billion, ST Engineering ranks among the largest companies listed on the Singapore Exchange The following is a list of companies on the Singapore Exchange. SGX Mainboard Multi-Industry Full name Incorporated ISIN Code Listed CPFIS Currency Quote Code Acma Limited Singapore SG1A01000524 June 1968 Yes SGD A01 . ST Engineering has approximately 16,000 employees worldwide, and over 100 subsidiaries and associated companies in 17 countries and 29 cities. For further information, please visit www.stengg.com. |
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